Award of Options

Award of options

The  Company announces that the  board of directors of  Serabi (the "Board") has
agreed  to award in aggregate 1,130,000 new  options over ordinary shares to its
Directors (representing 1.77% of the current issued share capital of 63,968,529
ordinary   shares).  The  options  are  exercisable  at  C$0.60,  equivalent  to
approximately  UK£0.37 per  ordinary share,  which compares  to the closing mid-
market  share price in London of 28.5 pence per ordinary share on 27 May 2011.
The option awards are as follows:

 Director          Number of new options over Ordinary Shares

 Mike Hodgson                       250,000

 Clive Line                         250,000

 Sean Harvey                        200,000

 Melvyn Williams                    200,000

 Doug Jones                         200,000

 Graham Roberts                      30,000


The  options have  been granted  under the  Serabi Mining 2011 Share Option Plan
(the  "2011 Plan")  which the  Company adopted  on 28 January 2011.  The options
granted  will vest  in three  equal tranches,  with one-third  vesting and being
exercisable  immediately on award, one-third vesting on the first anniversary of
the  award and the remainder vesting on  the second anniversary of the award and
the options will lapse three years after the date of the award.

The Board has made further option awards to other eligible participants of the
2011 Option Plan representing a further 500,000 new options over ordinary shares
also with an exercise price of C$0.60 (approximately UK£0.37) and with the same
vesting and expiry periods.


Enquiries:

 Serabi Mining plc

 Michael Hodgson                   Tel: [phone]

 Chief Executive                   Mobile: [phone]



 Clive Line                        Tel: [phone]

 Finance Director                  Mobile: [phone]



 Email: [e-mail]

 Website:  www.serabimining.com



 Beaumont Cornish Limited
 Nominated Adviser

 Roland Cornish                    Tel: [phone]

 Michael Cornish                   Tel: [phone]



 Hybridan LLP
 UK Broker

 Claire Noyce                      Tel: [phone]



 Farm Street Communications
 Public Relations

 Simon Robinson                    Tel: [phone]



 Fig House Communications
 Investor Relations

 Rebecca Greco                     Tel: + 1 416 822 6483



Copies of this release are available from the Company's website at
www.serabimining.com.



Neither  the  Toronto  Stock  Exchange,  nor  any  other  securities  regulatory
authority, has approved or disapproved of the contents of this news release.

ENDS







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Source: Serabi Mining plc via Thomson Reuters ONE

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